S&P reinstates rating on AXA North product
Standard and Poor’s (S&P) has reinstated its “very strong” rating on AXA’s North Personal Superannuation, Pension and Investments Plans product.
S&P placed the product on hold in February after AXA Asia Pacific announced an increase in annual fees for the product’s protected growth guarantee.
S&P found that the increases would have little effect on the product’s performance, according to Rodney Lay, an S&P fund services analyst.
However, Lay warned that more significant increases may affect the value of the selected term and investment strategy in the eyes of investors.
AXA increased its fees on the protected growth guarantee after the fall in interest rates led to increased costs in providing the guarantee.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
